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europe appears to be moving in the right direction as is china so the fundamentals are moving in the right direction, but the truth is if washington messes this up, we could go into recession the first part of next year, so that's what's keeping the cautious one on equities. ultimately i think we will finish higher for 2013, but we've got -- we've got to get past this fiscal cliff, because if we don't we go into recession, and i will go underweight stocks. >> all right. we will leave it there. gentlemen and liz ann seaners, good to have you on the program. appreciate it. >> thank you. >> thanks so much. sticking with the market and the economy, ceo co-founder ken langone. >> thank you. merry christmas. >> the co-founder of home depot, a financier, a guy who has his finger on the pulse of global business. that's why we wanted to have you for the whole hour. >> very nice. >> thank you and merry christmas to you as well. what's your take? just got the numbers from okay. here we are, every day worry after worry after worry on this fiscal cliff issue, and we see the numbers from the corpo
europe appears to be moving in the right direction as is china so the fundamentals are moving in the right direction, but the truth is if washington messes this up, we could go into recession the first part of next year, so that's what's keeping the cautious one on equities. ultimately i think we will finish higher for 2013, but we've got -- we've got to get past this fiscal cliff, because if we don't we go into recession, and i will go underweight stocks. >> all right. we will leave it...
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Dec 18, 2012
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be cooling off going on in china. that exacerbated a selloff in the agriculture commodities and that translated to a selloff in gold and silver as well. what's interesting to note are some reports out from firms talking about what happened in commodities overall. so far this year we have seen losses overall for commodities sector. gold, though, has fared pretty well up 7% year-to-date. back to you, sue. >> thank you so much, sharon. let's bring in jeff kilberg. i know a lot of people are longer term quite bullish on gold. why are we see this pressure taking it apolo the 1700 mark. >> well, sue, i think we saw a knee-jerk reaction initially when boehner came out with plan b. that technically got the ball rolling to the downside. keep in mind one week away from christmas. these holiday markets you can really get pushed around. traders have to be aware on thin volumes. came down to the november 5th low, new low on the close, 1670. right now i think they are stripping out the inflation in gold and really focused on the fi
be cooling off going on in china. that exacerbated a selloff in the agriculture commodities and that translated to a selloff in gold and silver as well. what's interesting to note are some reports out from firms talking about what happened in commodities overall. so far this year we have seen losses overall for commodities sector. gold, though, has fared pretty well up 7% year-to-date. back to you, sue. >> thank you so much, sharon. let's bring in jeff kilberg. i know a lot of people are...
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Dec 18, 2012
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margin ways, specifically india and china. you have large dividend yield, low debt, very cheap and will hold up better because expectations, there's not many of them. the stock is, i think, a very good opportunity because expectations are so low. >> mack, good to see you. >>> time now for what you might have missed in pops and drops. arcos dorados. >> it's playing it down low. it isn't that great a move. i think you wait to buy it above the 50, $12.90, great stock. >>> baker hughes, up 3%. >> some negative comments, took bhi down and the comments at bhi were not really as negative as the street thought. at $42 a little room on the upside. will take you higher. >> abercrombie. >> too expensive for me. can't get on board here. >> down 1%. >> keep your eyes on your fries. this thing is a big deal. a lot of people in bonds, a lot of flow into bonds. they could head out. i think you see follow through and cut our fixed exposure to 2%. >> mike. >> today, there was news the eu might require larger warning labels on cigarettes, negati
margin ways, specifically india and china. you have large dividend yield, low debt, very cheap and will hold up better because expectations, there's not many of them. the stock is, i think, a very good opportunity because expectations are so low. >> mack, good to see you. >>> time now for what you might have missed in pops and drops. arcos dorados. >> it's playing it down low. it isn't that great a move. i think you wait to buy it above the 50, $12.90, great stock....
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Dec 18, 2012
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weak dollar, stabilizing europe, better data out of china, those are the headwinds that that may be predicting, right? >> absolutely. i think that brent is going to hold up pretty nicely. we see brent up $100 a barrel. i just think that wti crude oil is very heavy. in fact, if you look at a lot of the grades around the midwest, they are really starting to feel very heavy. there's not much demand for those grades. in fact, we've seen western canadian select trading at # $4 a barrel in the last couple of we cans. this is the canadian crude coming into the u.s., giving a big discount. and wti, frankly, is going to be experiencing some of this pressure from the outside. there is going to be limited capacity in the next 18 months. so something has to give. it's either producer slow down or, you know, we get crude oil he can ports approved out of this country and this problem will be solved. but i don't know. i ask you guys. >> i've got a trader right here who heard 50 bucks and almost fell out of his chair. weiss? >> i don't see it. there's no way it's going to happen because the spread will be too
weak dollar, stabilizing europe, better data out of china, those are the headwinds that that may be predicting, right? >> absolutely. i think that brent is going to hold up pretty nicely. we see brent up $100 a barrel. i just think that wti crude oil is very heavy. in fact, if you look at a lot of the grades around the midwest, they are really starting to feel very heavy. there's not much demand for those grades. in fact, we've seen western canadian select trading at # $4 a barrel in the...
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Dec 18, 2012
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so is china. now, in the long run, we may come to regret this very much. in the short run, i have a feeling all this liquidity is a bigger issue than the fiscal cliff for stocks. >> for stocks. i totally agree with you. we're printing money all around the world. it's good for the stock market. but we're pumping liquidity in, lower growth forecast from the ex, just about any acronym entity that you think of, we've seen lower growth forecast at the same time the credit spreads have come back down. yes, i think things are calmer. these are good things for equities. the yields on corporate bonds, you have to go out seven, eight years to get money on junk paper. corporations have more cash on their balance sheet. they're buying back shares. >> ting the financial picture -- there's nobody that's cutting marginal tax rates. nobody's deregulating and there's nobody that's limiting government. i get that. there's no supply side policies going on. but when you look hat the financial fear spreads or the financial risk spreads -- and here's one, banks. i saw dick bove
so is china. now, in the long run, we may come to regret this very much. in the short run, i have a feeling all this liquidity is a bigger issue than the fiscal cliff for stocks. >> for stocks. i totally agree with you. we're printing money all around the world. it's good for the stock market. but we're pumping liquidity in, lower growth forecast from the ex, just about any acronym entity that you think of, we've seen lower growth forecast at the same time the credit spreads have come...
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Dec 18, 2012
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and among the catalyst here, signs that china's recovery is gaining traction. sources say that the bank of japan will ease monetary policy this week and consider adopting a 2% inflation target no later than january. policymakers are seen responding to pressure from the incoming prime minister there. shinzo abe for stronger efforts to beat deflation. in the meantime, india's central bank kept interest rates on hold yesterday ignoring pressure to reduce borrowing costs. policymakers said they were shifting the focus to reducing the economy and that raises the odds of a rate cut as early as january. andrew olson, over to you. >> ubs reportedly nearing a fine of up to $1.5 billion. the bank is close to finalizing a deal with regulators according to the financial times. about three dozen bankers and senior managers are said to face criminal or civil charges. >>> and it's official this morning, tend of an era for aig. details emerged during squawk yesterday. today, the u.s. insurer rates $6.5 billion from the sale of its remaining stake in aia group. and boeing is ra
and among the catalyst here, signs that china's recovery is gaining traction. sources say that the bank of japan will ease monetary policy this week and consider adopting a 2% inflation target no later than january. policymakers are seen responding to pressure from the incoming prime minister there. shinzo abe for stronger efforts to beat deflation. in the meantime, india's central bank kept interest rates on hold yesterday ignoring pressure to reduce borrowing costs. policymakers said they...
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you've been to china a lot in recent week. we keep trying to make sense of the data that comes in from china overnight. some of the industrial production numbers. >> remember, we have 16 businesses in china. i spent a lot of my time over there and we've got a great asian presence overall. so what are we seeing? one, exports are slowing and dramatic to europe. that's a structural fen phenomena. the second major market is real estate and my assumption is that they don't want real estate to go up too much and they can't have it go down too much because it will hurt the bank. so we're in a holding pattern. they are looking to liberalize the overall economy. you've seen the stock market rally. that's based on the assumption that growth is stabilizing and, more importantly, i think the new administration is going to try to do liberalize and the message is, don't expect us to lower rates to try to reduce growth. that's what they did in the past that created bubbles and issues. i think what they are going to try to quietly do is stabi
you've been to china a lot in recent week. we keep trying to make sense of the data that comes in from china overnight. some of the industrial production numbers. >> remember, we have 16 businesses in china. i spent a lot of my time over there and we've got a great asian presence overall. so what are we seeing? one, exports are slowing and dramatic to europe. that's a structural fen phenomena. the second major market is real estate and my assumption is that they don't want real estate to...